Budget responsibility rules met
The fiscal outlook is sound, but greater investment will slightly increase debt in the short term. This will be done without compromising our commitment to maintain a prudent level of debt in the long term. In this Budget, we are continuing to meet our Budget Responsibility Rules.
Our fiscal strategy has been set with these and our wellbeing objectives in mind. Accordingly, we have increased our operating allowances for Budgets 2019 and 2020, and have added to the multi-year capital allowance. This has allowed us to fund important investments, based on the wellbeing approach.
|Budget 2019||Budget 2020||Budget 2021||Budget 2022|
|Operating allowances at Budget 2019 (per year)||3.8||3.0||2.4||2.4|
|Capital allowance at Budget 2019||14.8 (for all years)|